Gold prices rise marginally in early trade, silver falls Rs 1,200

The price of gold rose marginally in early trade Friday with 10 gram of the yellow metal (24-carat) trading at Rs 51,000, up Rs 110 from yesterday's close, according to the GoodReturns website. The price of silver, on the other hand, fell Rs 1200 with the metal trading at Rs 57,300 per kg. Ten grams of 22-carat gold is trading at Rs 46,750 after a marginal rise of Rs 100.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,000 per 10 gram, while 22-carat gold is trading at Rs 46,750, respectively. In Delhi, 24-carat and 22-carat gold are trading at Rs 51,150 and Rs 46,900 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,930 and Rs 47,600, respectively.

US gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected US inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month.

Spot gold fell 0.3 per cent to $1,660.10 per ounce, as of 0123 GMT, while US gold futures dropped 0.6 per cent to $1,666.80.